New Zealand law explained for everyone
This table shows how much of your foreign superannuation withdrawal is taxable based on how long you’ve had it. The table has two columns: one for the schedule year and one for the schedule year fraction.
The schedule year goes from 1 to 26 or more, and the schedule year fraction is shown as a percentage. For example, in year 1, only 4.76% of your withdrawal is taxable. This percentage increases each year.
By year 26 or more, 100% of your withdrawal is taxable. This means that the longer you’ve had your foreign superannuation, the more of it will be taxed when you withdraw it.
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Next up: Schedule 34: Community housing trusts and companies: income and assets of beneficiaries and clients
or “Income and property limits for community housing assistance”
|
Column 1 schedule year |
Column 2 schedule year fraction (%) |
|---|---|
| 1 | 4.76 |
| 2 | 9.45 |
| 3 | 14.06 |
| 4 | 18.60 |
| 5 | 23.07 |
| 6 | 27.47 |
| 7 | 31.80 |
| 8 | 36.06 |
| 9 | 40.26 |
| 10 | 44.39 |
| 11 | 48.45 |
| 12 | 52.45 |
| 13 | 56.39 |
| 14 | 60.27 |
| 15 | 64.08 |
| 16 | 67.84 |
| 17 | 71.53 |
| 18 | 75.17 |
| 19 | 78.75 |
| 20 | 82.28 |
| 21 | 85.74 |
| 22 | 89.16 |
| 23 | 92.58 |
| 24 | 95.83 |
| 25 | 99.08 |
| 26 or more | 100.00 |